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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] Seoul, September 17, 2025 — LG Electronics has introduced a company-wide voluntary early retirement program for employees aged 50 and older, offering benefits of up to three years’ salary and child education support, the company confirmed on the 17th.
The program is optional and applies across all business divisions. It follows a similar program conducted last month within the Mobile Solutions (MS) Business Division and reflects the company’s review of the need for workforce renewal across other units. Employees meeting eligibility criteria will now be invited to apply.
The program targets staff aged 50 and above, as well as those who have recorded several years of low performance. Participants will receive, in addition to statutory severance pay, up to three years of salary as compensation and up to two years of financial support for children’s education, depending on years of service and time remaining until retirement.
LG Electronics emphasized that the initiative is designed to promote “talent circulation” by balancing workforce age demographics and evolving organizational needs.
In addition to temporary early retirement programs, LG Electronics also operates the “Bravo My Life” initiative, which supports employees over 50 who wish to allocate half of their working hours to entrepreneurship or technical training. The company provides related educational expenses under this scheme.
According to LG Electronics’ Sustainability Report, the number of regular employees aged 50 or older in Korea reached 7,025 in 2024, marking an increase of more than 22% compared to 2022.
Meanwhile, LG Electronics is currently conducting its second-half recruitment drive for new employees through September 22. Open positions include R&D roles in software, robotics, materials, and communications, as well as opportunities in sales and marketing.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
